simpleWRAP reduces fees
Relatively recently launched flat-fee platform simpleWRAP this week announced a range of fee reductions.
Confirming the fee reductions, simpleWRAP director Krystyna Weston said that over the past 12 months the platform had implemented a number of technological and transactional improvements which had resulted in savings.
She said these savings would now be passed through to clients.
"We are finding that simpleWRAP resonates with financial planners who place their clients' interests first and we feel strongly about supporting them and keeping our fees clear, simple and fair value for money," Weston said.
The platform introduced reductions in transaction costs associated with online trading and also introduced related accounts fees.
Weston said simpleWRAP had also reviewed its custody fee and introduced a cap on that fee, offering additional reasons to have high account balances in simpleWRAP.
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